131212 Profiteering looms as ASI ticks up - Thanks to Consumer Goods

Proshare

Nigerian equities capitalized on bullish run witnessed in the afternoon session to end the session on positive note despite lower opening posture and huge sell pressure recorded in the early trades while both breadth and turnover value slide into red zone as short termist scrambled for early trade profits.

The outlook revealed incoming profit taking tendency as speculative trading dominates market activities throughout the session along with growing market price volatility- a cautious trading is strongly advised in the coming sessions as market sentiments crave for profit taking due to MTD gain of 4.41%.

In addition, the key benchmark indices record moderate gains to extend 7 days gain, taking supports mainly from both Medium and Large CAP stocks.

In the same vein, the market capitalization of 187 first-tier equities appreciated by N47.71 billion as market sentiments remained positive. 90 equities were traded today as against previous 89 with more activities recorded in Financial Services, Consumer Goods, Conglomerates and Oil & Gas sectors.

At the close of trading session, the NSE All-Share Index extends gains by +0.54% to close at 27,663.52 as against uptrend by +1.72% recorded in the previous session to close at 27,514.18 In the same vein, market capitalization appreciated by N47.71billion (US$284.02 million) to close at N8.83 trillion (US$55.24 billion) as against appreciation by N148.25 million (US$926.58 million) recorded in preceding session to close at N8.79 trillion (US$54.94 billion).

The number of gainers at the close of trading session closed lower at 21 as against 31 recorded in the previous session while decliners also closed higher at twenty-four (24) as against nineteen (19) losers recorded in the previous trading day – suggesting a negative market breadth.

Today, four NSE sectoral indices closed positive as NSE 30 which basically measures the performance of blue chips extends gains by +0.70%, NSE Oil & Gas sustains gains by +1.08% as NSE Food & Beverages climbed further by +3.13% while NSE Insurance closed retraced by -0.35% as NSE Banking fell by -0.17%. The NSE LII sustained gains by +0.30%

As usual, Financial sector led the market transaction volume today with 389.70 million units valued at N2.89 billion (US$18.10 million) exchanged in 3,137 deals as against 302.45 million units valued at N2.98 billion (US$18.68 million) exchanged in 3,346 deals recorded in previous session.

The volume recorded in the sector was driven by transaction in the shares of ZENITHBANK, UNIVINSURE, NIGERINS, FBNH and DIAMONDBNK Plc and the total volume of 253.00 million units valued at N2.07 billion traded in the five stocks accounted for 54.50% of the entire market volume and their value represented 55.80% of the market’s value.

Transaction volume on the exchange moved up by +12.31% to close at 464.23 million units exchanged in 4,877 deals as against uptick by +9.10% recorded in the previous trading to close at 413.33 million units exchanged in 4,939 deals.

Also, market value depreciated by -7.13% to close at N3.72 billion (US23.28 million) as against appreciation by +53.88% recorded in the previous trading session to close at N4.02 billion (US25.07 million).

Sectoral Performance (According to New Market Segmentation)

Financial Services sector led the market sectoral performance with 389.70 million units of shares traded in 3,137 trades within the sector, followed by Consumer Goods sector to come second on the chart with 27.73 million units traded in 810 trades while Conglomerates sector recorded 19.56 million units in 139 trades to close with third position on the chart. See the full table below



Market Outlook by Classification
At the end of today's session, it was observed that Small Cap stocks according to new market segmentation topped today's market activity with 38.84% contribution to market turnover, followed by Large Cap stocks with 37.17% while Medium Cap stocks stake 24.00% to come last on the chart.

Among the Large cap stocks, ZENITHBANK, FBNH and GUARANTY topped the 11 traded stocks in that class while DANGSUGAR, DIAMONDBNK and FIDELITYBK Medium Cap of 22 traded stocks. Similarly, UNIVINSURE, NIGERINS and TRANSCORP led 57 traded stocks in the Small Cap category in that order. See table below



SECTORAL REVIEW
The Agriculture sector closed with one gainer to one loser as against one loser recorded in the previous session.

The Conglomerates sector closed with two losers as against with one gainer to one loser recorded in the previous session.

The Construction/Real Estate sector with closed flat as against one gainer recorded in the previous session.

The Consumer Goods sector closed with three losers to six gainers as against two losers to eight gainers recorded in previous session.

The Financial Services sector closed with five gainers to ten losers as twelve gainers to seven losers recorded in the previous session.

The Healthcare sector closed with two gainers compared to with three losers to two gainers recorded in previous session.  

The ICT sector closed one loser compared with flat position recorded in previous session.

The Industrial Goods sector closed with three gainers to three losers as against three gainers to two losers recorded in previous session.

The Natural Resources sector closed with no price movement as against no price movement recorded in previous session.

The Oil & Gas sector closed with three gainers to one loser as against two gainers to one loser recorded in previous session.

The Services sector closed with three gainers to one loser as against with two gainers to two losers recorded in the previous session.

Further analysis on Acquiring Banks since transaction date showed that the share price of Access Bank Plc has recorded +81.82% gains with FCMB recording -15.13% losses while Union Bank Plc leads the chart with +252.63% gains. However, Sterling Bank Plc recorded +32.8028 gains while ETI closed positive with -6.26% loss recorded. See the tracking table below.

Acquiring Banks

Earnings Report for Banks

Top Trades

Sectoral Index

Market Outlook by Capitalisation

Top Ten Gainers of the day

Top Ten Losers of the day

analyst@proshareng.com , 00234-1-7624131, December 13th 2012; 17.10hrs

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